New cars purchased for $20,300 the value of the car depreciate at 8.75% per year what will the value of the car be to the nearest cent after 12 years

$6765.35 or $6765 and 35 cents .

Step-by-step explanation:

Given :  New cars purchased for $20,300 the value of the car depreciate at 8.75% per year.

i.e. Initial value :

Rate of depreciation : r= 8.75% =0.0875

Time : t= 12 years

Formula : , where A is the value of car after t years.

Substitute the corresponding values , we get

 [Rounded to the nearest cent]

Hence, the  value of the car after 12 years will be $6765.35 .